Exclusive: Touraust Corporation sells Constellation Hotels

Touraust Corporation has just announced the sale of Constellation Hotels to Singapore-based private investment firm Nadathur Fareast.

Touraust Corporation Chairman and Founder, Darryl Courtney-O’Connor, said he was delighted to have secured a strong future for Constellation Hotels, its people, brands and unique business platform.

“Over the past two years we have explored a number of strategies to expand Constellation Hotels into Asia Pacific,” Mr Courtney-O’Connor said.

“During that process it became clear that a purchase agreement with Nadathur Fareast provided the best way to maintain Constellation Hotel’s successful Australian operation while optimising growth of the business throughout Asia Pacific.

“Constellation Hotel’s ambition is now to meet the increasing demand for new generation hotels in lively destinations across the region by replicating the successful brands, operational platforms, loyalty systems and culture developed on Australian soil.”

Constellation Hotels was founded 25 years ago by Courtney-O’Connor and currently comprises the Chifley, Australis Resorts and Hotels, and Country Comfort brands. The company also operates the Sundowner Motels brand.

“At this time I would like to offer my sincere and profound thanks to all those people who have contributed to developing Constellation Hotels over the past 25 years into what it is today.

“The culture of the company, built on the people and their relationships, is at the centre of our success,” said Courtney-O’Connor.

Constellation Hotels Chief Executive Officer, John Wooller, and his Executive Team will now manage the growth strategy for the company based in Singapore, while continuing to strengthen the operating platform in Australia and New Zealand, where Constellation Hotels’ portfolio includes more than 60 properties.

Courtney-O’Connor added: “I wish Nadathur Fareast every success in the future and look forward to Constellation Hotels rising to the next level on an international stage.”